- Interest rates are higher than deposit accounts on the market;
- CDs are often considered as good as securities;
- Allows the owner of the CD to inherit, sell, gift or transfer to another person;
- Can be used as collateral for savings-backed loans with a low interest rate.
- Home
- Personal Banking
- Deposit account services
Certificate of Deposit (CD)
Certificate of Deposit (CD)
Our CD is a very special product where a bank gives you a certificate for owning a deposit account, which you can later use it for selling, gifting, inheriting, or transferring it to someone else. We are offering CD accounts available in both MNT and USD currencies to be opened.
Benefits
Terms and conditions
|
Terms |
Annual Interest rate |
|
|
Tenor |
MNT |
USD |
| 1 month |
10.50% |
2.20% |
| 3, 6, 9 months |
12.50% |
4.00% |
| 12 months |
13.2% |
4.00% |
| Interest rate upon early termination of contract /annual/ |
2.4%-4.8% |
1.20% |
| Minimum deposit |
100,000,000 MNT and 500,000,000 MNT. |
100,000 USD and 500,000 USD. |
| Interest payments |
At the end of the contract |
|
| Interest on ‘Repo’ financing |
Annual interest rate + 4.00% |
No repo financing |
| Other conditions |
No deposit transactions (Has strict rules on adding or making deposit transactions to your CD account) |
|
Fees and charges
Eligibility or required documents
- Customer application form /download here/;
- Documents required:
- For Mongolian citizens: Citizen’s ID card;
- For Foreign citizens: Passport and Certificate of Alien Registration.
Download Customer Application Form
